Saving with Simple for Alpacas

Prime Time Kisses Prime Time Kisses. Photo by: Starling Farms, LLC

When Shaunna’s 8-year-old son approached her out of nowhere about wanting to work with fiber animals, she was a bit surprised. Their family lives on a homestead in Indiana with horses, chickens, and dogs but fiber animals had never come up before.

Her son had been doing some reading about how to make hats, scarves, and sweaters and came to the conclusion that fiber animals would be best for this. Initially he wanted sheep, but as they started doing some research, and looking into breeders, they landed on alpacas.

Gaining knowledge, gaining savings

One of the first things Shaunna realized after deciding on alpacas was that they’d be expensive.

Depending on the fiber of the alpaca, one normally sells for about $2,000 to $2,500. And because alpacas do better in groups, Shaunna and her family had a Goal to save for two, which totaled to about $5,000.

Funds for fiber

Shaunna and her husband have been Simple customers for about a year and use their Shared Account for all their transactions and savings. Her best friend Aimée had told her about it, and at first, they were skeptical about joining a digital bank. But after seeing how quick and easy it was to save, they were hooked.

When they decided to start saving for alpacas, they created two Goals; one that took money out of their paychecks every other Friday, and one they contributed $5 to daily. Knowing they had two systems for saving made them more confident they’d be able to save what they needed; and do it faster. Shaunna said they didn’t miss that $5 each day, and it added up overtime.

“Goals make saving so easy for us,” she said. “We don’t even need to think about it. When paychecks hit the account, that money is already out of our sight, because we’ve set up a Funding Schedule.”

Alpacas at last

Once they’d saved $1,500 for their deposit, they were able to pick out their alpacas. They partnered with their breeders in Ohio and Indiana and chose two females; Prime Time and Anna. They come registered with names, and Prime Time was given hers because she was born at exactly 8 p.m., during prime time television. The other was named Anna because the breeder’s grandkids are obsessed with the movie Frozen.

With their alpacas picked out, they continued to save for the rest of their costs and started putting money aside for other things they’d need before and after the alpaca’s arrival, like fencing.

Anna - LinChris Alpacas photo by: LinChris Alpacas

Preparing for arrival

After saving for about four months, the alpacas are due to arrive on their farm in June. They still have some work to do to get their place ready, but they’re excited.

Her son is going into a 4-H program through Purdue University, to learn more about alpacas specifically, and is looking forward to working with them so closely.

As for Shaunna, she’s already started thinking about getting a third alpaca.

Shauna would like to thank Brian and Joy Turner at Our Little World Alpacas for their help in guiding her through this process.

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple nor our partner bank, BBVA USA, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.

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